Banks in Qatar have recognized the role played by digital transformation in driving growth and efficiency. Banks are reassessing their business models to ensure that they are profitable and remain sustainable in the future.

Changes in economies, policies and regulations, coupled with the disruption and innovation triggered by technology, compel banks and financial institutions to work on their strategies and push the boundaries when it comes to technology.

In a bid to meet the demands of new age customers, banks are taking the path of transformation, innovation and strategies. This leaves a lot of work to be done. Be it customer experience on digital platforms or the turnaround time to service any kind of request, banks have to ensure that the evolution of their services, products and processes is consistent to help them stay ahead of the curve.

A holistic approach that covers all aspects of technology across internal processes and front-end platforms (such as social media, mobile and multi-screens) while minimizing security risks is the need of the hour.

The rise of fintech and its associated disruption has necessitated collaboration between banks, financial institutions, government regulators and fintech companies to ensure a safe and secure financial environment. The multi-million dollar question that banking and financial institutions need to ask themselves right now is, “where do we fit in the future of the financial ecosystem?”

The 2nd Annual New-Age Banking Summit will not only highlight the challenges and opportunities but will provide a knowledge and networking platform that will bring the Qatar banking industry at par with its counter parts across the globe. The summit will empower the banks to devise strategies that will help them keep pace with the evolving financial eco-system in this digital age.